The timeshare business is a controversial emerging industry that offers consumers the right to use a luxury property for a fraction of the time of the year. While the products on offer are legitimate, countless scams and shady deals have made people view the industry differently now. Unscrupulous timeshare salespeople who use harsh sales tactics and other practices that are not essentially illegal but are nonetheless unethical also add to the negative image. These are some of the things you should know.
Pay Attention to the Sales Call – Salespeople often encourage people to listen to one of their sales presentations by offering them high prices if they just stick with the entire sales presentation. The most common items offered include discounts or new cars and appliances. It is important to read the details and terms of these prices before agreeing to anything. Often there are hidden costs you must pay to receive these gifts. Some of them are even different from the impression they give. Cases have been reported where a free jackpot offered as a prize turned out to be a toy. Sometimes people who already own a timeshare are persuaded to buy another with the promise that the old one can be easily resold when in reality the agent is making no effort.
Aggressive Sales Tactics – High pressure sales pitches, also known as hard sales tactics, use persistent and confrontational methods for you to sign this timeshare contract. Some even take consumer pride in suggesting that they may not be the right person for the company. The key to avoiding this tactic is understanding the seller’s intent in their tone and choice of words.
Avoiding impulsive decisions is key to avoiding these pitfalls. Never agree to buy anything locally or sign an agreement. No matter how good the deal looks, it’s always worth taking a closer look at the fine print. Take the information home, read the contract (or ask someone who knows about your lawyer friend to do it), weigh the costs, and then make a decision. When you’ve decided to go ahead with the business, contact the agent or company you work for to discuss the contract. Make sure you get all the details in writing. Before buying, ask if you can visit the property you are buying. Buying a property that you have not seen in person is never a good idea. Glossy brochures don’t count.
There are also cases where timeshare units are offered even before they are finished. In times of tight credit, these pre-sale developments may not be a good idea if the business collapses or runs into financial trouble before ownership is complete. Therefore, it is wiser to use an escrow service to keep your money safe until development is applied.
When a property is poorly maintained, it is not much fun to visit it every year. Therefore, make sure the contract includes terms that describe exactly what maintenance services the resort provides. If you commit to alimony, you have legal rights if you have violated the terms of the contract.